Leasing Activity on the Rise: Companies Like Novartis, Arrise, and Others Drive São Paulo’s Office Market to Its Lowest Vacancy Rate in Four Years

With more than 230,000 m² leased between July and September, São Paulo’s office market maintains strong momentum, reducing the vacancy rate to 18.36%

SUBSCRIBER EXCLUSIVE

Sylvester Feddes, Country President of Novartis Brazil

By: SiiLA News

10/17/2025

The recovery of São Paulo’s corporate office market gained momentum in 2025. Between July and September, the city recorded 234,500 m² of gross absorption, according to data from SiiLA’s Market Analytics — the third consecutive quarter above the 200,000 m² mark. The performance confirms the recovery of a market that, after periods of uncertainty, has been attracting companies from various sectors.

🔎 Want to stay ahead of all movements in the corporate real estate market? Subscribers to SiiLA’s Market Analytics have exclusive access to complete data on vacancy, absorption, new deliveries, and transactions across Brazil’s office market.

SiiLA’s monitoring covers more than 9 million m² of office space in São Paulo, spanning Class A+, A, and B developments across 20 city regions, including Alphaville. The data shows a positive net absorption of 86,800 m², meaning the volume of leased space...

Prime Districts Lead the Way

The Faria Lima, JK, and Chucri Zaidan regions continue to be reference points, maintaining low vacancy levels and rising rental rates. Among the largest leases of the quarter was Arrise, a company in the online casino and betting segment, which leased 11,300 m² at the Julieta Building, a Class A+ development in Chucri Zaidan.

Quinto Andar, the digital real estate giant, expanded its operations by leasing 7,000 m² at Arquipeo, another Class A+ building delivered in 2024. Coming next is Novartis, which leased 6,100 m² at WTorre Morumbi.

In addition to these major leases, the quarter saw the completion of five new office developments, adding 24,800 m² of new inventory to the market. Highlights include Guatá Office Tower in Jabaquara (6,200 m²), Gabriel 1825 in Jardins (5,300 m²), and Brigadeiro 3595, also in Jardins (6,300 m²). Other additions include Duo Corporate and Gabriel Monteiro 2555 in Pinheiros.

After the impact of the pandemic and the subsequent restructuring of workplaces, corporate occupancy has shown consistent signs of recovery. If the current pace continues, the market could close 2025 with the lowest vacancy rate since 2020, consolidating a new cycle of stability.

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